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Nonprofiteer
← BF PROPERTY TR

Form 990 for tax year 2024

Filed by BF PROPERTY TR.

Totals

Total revenue
$1,500
Total expenses
$35,651
Contributions and grants received
$1,500
Grants paid
$0
Program service revenue
$0
Investment income
$0
Other revenue
$0
Total assets, end of year
$1,338,662
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$1,338,662
Program services expenses (Part IX)
$33,251
Management and general expenses
$2,400
Fundraising expenses
$0
Program service expenses (Part III)
$33,251

Program services were 93.3% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1d · Related organizations

    $1,500

Functional expenses

Part IX, the statement of functional expenses.

  • 11c · Fees: accounting

    total $2,400 · management and general $2,400

  • 22 · Depreciation, depletion and amortization

    total $32,275 · program services $32,275

  • 24a · Other expenses: PROPERTY TAXES

    total $976 · program services $976

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year -$473 · end of year -$2,349

  • 10a · Land, buildings and equipment: cost or other basis

    $1,566,936

  • 10b · Land, buildings and equipment: accumulated depreciation

    $225,925

  • 10c · Land, buildings and equipment, net

    beginning of year $1,373,286 · end of year $1,341,011

  • 27 · Net assets without donor restrictions

    beginning of year $1,372,813 · end of year $1,338,662

Mission and programs · 2024

Mission

THE BF PROPERTY TRUST (THE "TRUST") WAS CREATED BY BETHEL WORLD OUTREACH CENTER, INC. ("BETHEL"). AFTER LEASING PROPERTY IN FRANKLIN, TN TO BETHEL FROM 2013-2018, THE TRUST PURCHASED PROPERTY AT 1503 SULPHUR SPRINGS IN MURFREESBORO, TN IN 2018. THE TRUST THEN ENTERED INTO A LEASE AGREEMENT WITH BETHEL PURSUANT TO WHICH THE TRUST LEASED THE MURFREESBORO CHURCH TO BETHEL. IN ADDITION TO ACTING AS BETHEL'S LANDLORD UNDER THE LEASE AGREEMENT, THE TRUST PLANS TO UTILIZE ANY OTHER ASSETS CONTRIBUTED TO OR OTHERWISE ACQUIRED BY THE TRUST TO SUPPORT BETHEL, ITS AFFILIATES, AND ANY OTHER CHRISTIAN, BIBLE-BELIEVING CHURCH OR RELIGIOUS ORGANIZATION THAT IS OPERATED AND ORGANIZED WITH AN EMPHASIS ON CHURCH PLANTING, EVANGELISM, AND WORLD MISSIONS.

  • THE TRUST MAINTAINS A LEASE AGREEMENT WITH BETHEL WORLD OUTREACH CENTER, INC. ("BETHEL") PURSUANT TO WHICH THE TRUST LEASES THE MURFREESBORO CHURCH TO BETHEL, FOR NOMINAL CONSIDERATION. IN ADDITION TO ACTING AS BETHEL'S LANDLORD UNDER THE LEASE AGREEMENT, THE TRUST UTILIZES ANY OTHER ASSETS CONTRIBUTED TO OR OTHERWISE ACQUIRED BY THE TRUST TO SUPPORT BETHEL, ITS AFFILIATES, AND ANY OTHER CHRISTIAN, BIBLE-BELIEVING CHURCH OR RELIGIOUS ORGANIZATION THAT IS OPERATED AND ORGANIZED WITH AN EMPHASIS ON CHURCH PLANTING, EVANGELISM, AND WORLD MISSIONS.

    Expenses $33,251

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Timothy Johnson

    CO-TRUSTEE

    Total calculated
    $0
    Hours/week
    0.25 + 0.5 related

  • Ron Lewis

    CO-TRUSTEE

    Total calculated
    $0
    Hours/week
    0.25 + 0.5 related

  • Michael Omartian

    CO-TRUSTEE

    Total calculated
    $0
    Hours/week
    0.25 + 0.5 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2024
Filed
9 October 2025
IRS schema version
2024v5.0
Source object
202512839349300341

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